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MCX Copper is likely to trade with sideways to positive bias during today`s trading session - Monarch Networth Capital
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COMMODITY TECHNICAL OUTLOOK
* MCX Gold is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.62200 - 62000 levels whereas resistance is at Rs.62800 - 63000 levels.
* MCX Silver is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.70100 - 69700 levels whereas resistance is at Rs.70900 - 71300 levels.
* MCX Crude Oil is likely to trade with positive bias during today’s trading session. Support is at Rs. 6000 - 5920 levels whereas resistance is at Rs. 6180 - 6260 levels.
* MCX Copper is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.712 – 708 levels whereas resistance is at Rs.721 - 725 levels.
CHART OF THE DAY MCX-CRUDE OIL (DAILY CHART)
Strategy: Intraday
* CRUDE OIL prices traded with positive bias during the last trading session; and prices are trading above upward trend line.
* For Intraday session immediate support is at 6000 - 5920 level and resistance at 6180 - 6260. Any pullback towards support level should be taken as buying opportunity targeting immediate resistance of 6180 - 6280 levels on higher side.
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